Federal Reserve Bank of St. Louis President James Bullard said he will urge reducing the pace of central bank asset purchases by the middle of the year if U.S. growth picks up as he expects.

"We should think about tapering or adjusting the program," Bullard said today in an interview in Washington. "If you get some good data for a couple of months, maybe you’d say, 'Okay, we go back to $75 billion per month instead of $85 billion or something like that.'"